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MSCA update: retirement and separation incentive programs, 3/2021

For MSCA:

BHE and MSCA agreed to an amendment to the Memorandum of Agreement dated February 8, 2021 (below).  The original March 1, 2021 deadline for MSCA members to inform MassArt in writing of their intent to retire or separate from the college was extended so that the deadline for all unions (MSCA, APA, and AFSCME) is the same: April 1, 2021.

To notify MassArt of your intent to participate in the program, use this form.  You may change your mind and revoke your notification later so we encourage anyone who has not yet submitted a notification and who is considering separation to send a notification by the new deadlines outlined below:

  • MSCA: Monday, April 1, 2021

---------------

Prior MSCA notification, 2/2021

In February 2021, BHE and MSCA agreed upon a 2021 Voluntary Retirement/Separation Program. Massachusetts College of Art and Design will be participating in this program. The college is providing a minimum of $150,000 to fund this program. The terms, deadlines and eligibility requirements are outlined in the attached agreement. 

Here are some important deadlines:

• Unit members must inform MassArt in writing by March 1, 2021 of their intent to retire or separate from the college. 

• If a unit member does so, they can still revoke that notification of intent in writing by April 1, 2021 so we encourage anyone who is considering separation in accordance with this agreement to send a notification by March 1, 2021. Confirmation of eligibility and other details can occur before April 1 so they can change their minds.


For APA:

BHE and APA agreed upon a 2021 Voluntary Retirement/Separation Program (“the Program”). Massachusetts College of Art and Design will be participating in the Program. The college is providing a minimum of $150,000 to fund this Program. The terms, deadlines and eligibility requirements are outlined in the attached agreement.

Here are some important deadlines:

• Unit members must notify MassArt in writing by April 1, 2021 of their intent to retire or separate from the College.

• If an eligible unit member does so, they can still revoke that notification of intent in writing by April 30, 2021 so we encourage anyone who is considering separation in accordance with this agreement to send a notification by April 1, 2021. Confirmation of eligibility and other details can occur before April 30 so they can change their minds.

AFSCME update: retirement and separation incentive programs, 3/2021

For AFSCME:

BHE and AFSCME agreed to an amendment to the Memorandum of Agreement dated February 8, 2021 (below).  The original March 1, 2021 deadline for AFSCME members to inform MassArt in writing of their intent to retire or separate from the college was extended so that the deadline for all unions (MSCA, APA, and AFSCME) is the same: April 1, 2021.

To notify MassArt of your intent to participate in the program, use this form.  You may change your mind and revoke your notification later so we encourage anyone who has not yet submitted a notification and who is considering separation to send a notification by the new deadlines outlined below:

  • AFSCME: Monday, April 1, 2021

--------------

Prior AFSCME notification, 2/2021

For AFSCME:

In February, BHE and AFSCME agreed upon a 2021 Voluntary Retirement/Separation Program (“the Program”). Massachusetts College of Art and Design will be participating in the Program. The college is providing a minimum of $150,000 to fund this Program. The terms, deadlines and eligibility requirements are outlined in the attached agreement.

Here are some important deadlines:

• Unit members must inform MassArt in writing by March 1, 2021of their intent to retire or separate from the College.

• If an eligible unit member does so, they can still revoke that notification of intent in writing by April 1, 2021 so we encourage anyone who is considering separation in accordance with this agreement to send a notification by March 1, 2021. Confirmation of eligibility and other details can occur before April 1 so they can change their minds.


end of special news section

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Benefits overview for nearing retirement:


For ongoing updates, please:

-Visit our website: www.mass.gov/retirement

-Follow us on Facebook: www.facebook.com/mass.state.retirement

-Follow us on Twitter

-Watch MSRB Educational Videos on YouTube

-View & Register for Upcoming MSRB Webinars

The links above include a link to our YouTube channel where you can watch previously recorded webinars, including one about Social Security WEP/GPO.


Contact us

MAIN OFFICE

One Winter Street, 8th Floor Boston, MA 02108 Tel. (617) 367-7770 Fax. (617) 723-1438

REGIONAL OFFICE

436 Dwight Street, Room 109A, Springfield, MA 01103
Tel. (413) 730-6135
Fax. (413) 730-6139

Toll free (within MA only)

(800) 392-6014

E-mail: srb@tre.state.ma.us
or MSRBCommunications@tre.state.ma.us www.mass.gov/retirement

Telephone Contacts

o Telephone: (617) 367-7770 – Open telephone hours from 9:00 AM to 3:00 PM

o If you call before 9:00 AM or after 3:00 PM, then select one of the following options:

  •   If you have a question about a retirement payment, direct deposit, mailing address or federal tax withholding, press 1

  •   If you are calling about a service purchase or buyback, press 2

  •   If you are calling about a refund or rollover request or payment, press 4

  •   If you are calling to report the death of a benefit recipient, press 5

  •   If you have questions about disability retirement benefits, press 6

  •   If you have questions about regular retirement benefits, press 7

  •   If you are calling about an employer reporting matter, press 1

E-mail Contacts

o SRB Main email: srb@tre.state.ma.us

o Communications: MSRBCommunications@tre.state.ma.us

o Survivor Benefits (report a member or survivor's death): survivorbenefits@tre.state.ma.us

o Refunds/Rollovers – refundrollover@tre.state.ma.us
o Buyback (Service Purchases): buyback@tre.state.ma.us o Board Reporting: EBR@tre.state.ma.us

Manager Tamarra Desruisseaux: tdesruisseaux@tre.state.ma.us

o Disability: MSRBDisabilityBenefits-dl@tre.state.ma.us

o Legal – Individuals who have legal documents to submit for review, such as proposed or draft domestic relations orders and worker’s compensation lump sum agreements, or documents related to a pending appeal before the Division of Administrative Law Appeals (DALA), may submit them to: msrb-legal@tre.state.ma.us


Deferred Compensation SMART Plan for retirement



Health Insurance:

If you are retiring, visit the GIC’s website and read the Retiree/Survivor Benefit Decision Guide to learn about coverage options for health and life insurance as a retiree.

 


Social Security 2021 Retirement Power Point:




Leaving

The Group Insurance Commission (GIC) administers COBRA coverage that allows certain former employees, retirees, spouses, former spouses and dependent children to temporarily continue their existing group health coverage at group rates when group coverage ends as the result of certain employment or life events.  The cost for your COBRA coverage is 102% of the full cost group premium. When you leave state service, refer to the benefits options, which can be found on the GIC website.    

If you are resigning from your job, please provide at least 2 weeks written notice that includes the last day of work and a mailing address to your supervisor and/or manager. 

You may either receive a refund of your retirement contributions, with 20% deducted for federal taxes or roll it over into a tax-qualified plan. Under certain circumstances, there may be a penalty for early withdrawal.

If you leave state service after you are vested and before you are old enough to retire you may leave your retirement contributions in the system and receive a state pension at age 55 (age 60 if you started on or after April 2, 2012).

When you retire directly from state employment, you will receive a cash-out check for 20% of the value of your sick leave balance.  In the unlikely event that you pass away while still employed by the state, your estate will receive the 20% sick leave cash out payment. 

Because of the many variables connected with your retirement, it is vital that you discuss your situation in advance with a Retirement Counselor at the State Board of Retirement.  The contact information for the State Board of Retirement may be found in Appendix I.

Unemployment Insurance Benefits

Like any employer, the Commonwealth contributes towards the unemployment insurance system on your behalf. In the event you are separated from your position, you may file a claim with the Division of Unemployment Assistance (DUA).  Your agency will verify the reasons for your separation and the DUA will determine your eligibility for benefits.

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